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How to Increase the ROI of Sales Training Even though $20 billion is spent on business sales training per year, more than a third of sales leaders admit that they do not have a clear idea of what measurable return they are looking for on sales training.
Sales professionals' skills and productivity strongly impact an organization's ROI and reputation. So, hiring the right resources and managingsales talent is crucial to winning and retaining customers, thereby building a successful business model. Tip 2: Encourage the Management to Invest in Sales Tech Stack.
They measure salesROI differently. The key to smart investing is having good data that highlights where the greatest salesROI is. Many companies, however, measure sales efficiency in terms of sales cost versus revenue. Some 72% of companies in the top quartile of salesROI also have the lowest sales costs.
I saw this clearly at another client where there was a wide range of answers to the question, “Was the CRM implementation a success?” The EVP of sales liked the easy-access dashboard to report on metrics and the forecast. Salesmanagement was less positive but acknowledged that it helped them monitor activity.
This as approach helps both CMO and COO become invested in the successful implementation of the plan. When salesmanagers saw a rush of customers, they could put more people on the front desk. For any change to stick, the CMO and COO need to have joint accountability and create incentives that reward collaboration.
But salesmanagers also have to take some blame. Yes, the patterns established through decades of sales behaviors are difficult to break. Perhaps you could study the prospect’s S-1 and their CEO’s letter to shareholders to develop an ROI proposition that is uniquely of interest to them.
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